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Updated about 8 years ago on . Most recent reply

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Cristian Nicolaie
  • Investor
  • Mount Prospect, IL
0
Votes |
7
Posts

BRRR refinance option for 15 to 20 year with fixed rate, any help

Cristian Nicolaie
  • Investor
  • Mount Prospect, IL
Posted

So here I am two years into landlordship with lots of cash poured into my first BRRR and stuck with ridiculous conditions for refinance.

I thought it would be an easy process, had all the math done, turned a mixed use into a fourplex, lots of upgrades but now I find out there is no real refinancing options to recover the cash investment I did to upgrade the property. 

I was wondering if there are any way to get a 15-20year fix rate refinance with cash out at closing.   

Most Popular Reply

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862
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438
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Darren Eady
  • Rental Property Investor
  • Lindon, UT
438
Votes |
862
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Darren Eady
  • Rental Property Investor
  • Lindon, UT
Replied

@Cristian Nicolaie

I would talk to the lending manager at several banks close to the property until you find what you are looking for.  Some conditions will be standard, but others will not.  Hopefully you'll find what you are looking for soon.  If it was super easy, I guess everyone would be doing it!

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